FreedomLoan 1.0.3

FreedomLoan serves as a lending platform tailored to individuals in Sri Lanka who require financial assistance for various purposes, whether for business expansion, inventory acquisition, or urgent needs. The platform facilitates access to qualifying loan products via smartphones at any hour, allowing users to manage their financial requirements online around the clock.

The evaluation process is designed for efficiency, enabling users to receive feedback on their applications in a reduced timeframe. Upon approval, funds are promptly transferred to the user's digital wallet.

Eligibility criteria for obtaining a loan through FreedomLoan include:

1. Age of 18 years or older
2. Must be a Sri Lankan citizen
3. Possession of a regular source of income

To apply for a loan, users should follow these steps:

1. Download the FreedomLoan application
2. Register an account using your phone number
3. Provide essential personal information
4. Submit your application
5. Await approval

Product Details:
Loan amounts range from 5,000 to 85,000 LKR.
Loan terms are available from 91 days to 365 days.
- Annual Percentage Rate (APR): 3% to 12%
- Management Fee: 1% to 5%
Late payment incurs a fee of up to 0.1% per day (capped at 18% of the overdue amount). Importantly, there are no hidden fees. Users will only face penalties for late payment on scheduled installments.

Example Calculation:
For a loan of 5,000 LKR with an APR of 12% over a term of 91 days:
Loan interest = 5,000 LKR x (12% / 365) x 92 = 151.2 LKR
Loan Fee = 5,000 LKR x 3% = 150 LKR
The net loan amount disbursed is 4,850 LKR (i.e., 5,000 LKR minus fees).
Total repayment amount will be 5,151.2 LKR (5,000 LKR + interest).

Security Assurance:
FreedomLoan ensures the confidentiality and safety of personal information. Users can trust that their data will not be shared without explicit consent.

Contact Information:
Address: Lucky Plaza, 70/20 St. Anthony’s Mawatha, Colombo 3
Customer Service Email: [email protected]